Mitrata Inclusive Financial Services is a dynamic NBFC, established on September 1, 2017, following the successful launch of the Mitrata program by At-Grassroots Society on December 1, 2009. Under the leadership of Managing Director Dr. Aqueel Ahmed Khan, Mitrata has expanded its footprint to 68 branches across 5 states - Uttar Pradesh, Madhya Pradesh, Haryana, Rajasthan, and Bihar - serving over 1 lakh customers.
NOTABLE INITIATIVES
In the last 12 months, one significant development at Mitrata has been the appointment of Achla Savyasaachi as an Independent Director. Dr. Aqueel Ahmed Khan explained: "Achla Savyasaachi has joined Mitrata as an Independent Director, bringing our total to 4 independent directors, including a woman independent director. For a small-sized company, having such a strong board is rare."
Emphasizing a reflective approach, Mitrata has initiated efforts to reconnect with its foundational principles by engaging with field officers and branch managers. This initiative aims to revisit the core reasons for the existence of Microfinance Institutions (MFIs), focusing on the history, community engagement, and the fundamental principles of Joint Liability Groups (JLGs). This process is about unlearning past practices to relearn effectively.
To enhance operational effectiveness, Mitrata has also established a field-based cadre of Quality Managers responsible for underwriting and monitoring Loan Utilization Compliance (LUC), ensuring adherence to credit policies in the field.
ACHIEVEMENTS
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Denne historien er fra October 2024-utgaven av Banking Frontiers.
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